US Treasuries Stumble as Traders Pare Bets on December Fed Cut
President Donald Trump displays signed funding legislation to reopen the US government, on Nov. 12.
Photographer: Bonnie Cash/UPI/Bloomberg
Treasuries fell and traders pulled back on bets that the Federal Reserve is set to bring down interest rates next month as policymakers cautioned against further reductions.
Odds of a December cut assigned by the market slipped below 50% as Fed officials signaled concern about inflation that remains above their target. Investors had fully priced in the cut as recently as last month, wagering that weakness in the labor market would outweigh price pressures.